Awaiting Fed Decision, Economic Projections

Neal Lipschutz joins the News Hub special to discuss what is expected from the Federal Reserve announcement on the economic outlook for the nation. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... welcome to this new sub special I'm Simon Constable we al waiting the Fed's decision on interest rates and its economic ... forecasts with a great discussion here joining me for ... a few minutes of the top of the show we got Neil Lipschutz ... areas thank you Brian much for being on the design and ... some we await the Fed took the loss of reasons aam ... what are we waiting for tonight that I don't think we're expecting interest rates to be changed you write when I'm expecting interest rates to the chase I think ... the general consensus also is that we're not expecting the Fed to deviate from their bond buying program of eighty five billion dollars per month ... of mortgage and Treasury securities ... I think in the statement were looking for a couple of things are looking for their assessment of the economy since they went to bed at the end of January ... since that time we've had one pretty impressive ... employment report ... and so what we talk about the economy ... in stronger terms ... then they have ... in him that if if that's the case of we you know people will start then trying to extrapolate from then ... how long will they continue the bond buying program ... during a press conference I think people want to gauge what Chairman been Anqi thinks about ... the economy ... but I think given that he'll probably be yes the subject of revenues and when the subject and is a Cyprus ... I'm when we know we will be ... covering now for the trek from press conference while real reporters will be ... found at a press conference as will many other was when looking at it all now the thing with the fact is that ... the change of the single or couple of words ... can mean a big difference to the market so it could be conceived silver Cashel sinusitis but nothing's changed ... I needed something to be really critical right ... that's right I mean I think what what ... people like the fit seriously and investors ... in general and people who trade in differ markets obviously ... so this in on every word and want everyone to be analyzed for them ... they wanted trying to get the sense even ... how would it online ... changes in the Fed's thinking and therefore eventually changes in the policy ... even if nothing is expected ... this meeting or next meal or even the media for them I think that's the position ... to read now that even if the language does change will be interesting it'll be ... a signpost to ... future action ... but I don't think there's any expectation among most people who follow that either in today's meeting or even in the subsequent couple of meetings ... to be any material change in the policy ... and now one other things I'm Tom been Anqi is set in the past is that the Fed has ... limited also laughed a aam and things that they can do and repeat his twenty twenty the thing that the federal government to meet you gotta get your act together ... the comrades ... and pencil things that ... he's probably was a chemist ... I think he will and if you look at what's happened in the last couple months I don't want to really speak for the tram and ... mobile it seems that the federal government has done exactly what his advice and not to do ... in other words ... what you know you surprised ... and ... relieved when he another economist of urgent to do is come up with the long term plan ... to when ... she attacked him to the huge debt and deficit problem United States ... but don't call can be now including cutting spending ... because the economy still a reasonably fragile state we want to have ... its own momentum ... and you know really underway before those kinds of cuts get in and frankly the problem as many economists see it is medium to long-term on the short term so what's happened ... essentially the opposite right we've ... we saw a fall in in if you will too was sequester ... because Congress couldn't agree to do something else ... and is in its the penalty it set up for sale for not doing something else ... has come into effect ... we haven't seen its full implications hit of course ... income are still ... trying to reverse that ... but so far ... he probably will say that again ... give us a long term plan for deficit cutting ... that's sort of ... of back and then you will read them from loading ... and whether or not he gets any more success in convincing Congress ... and the missed ration that's what ... needs to be done in your remains to be saying ... that a move that will be interesting now one of things that scientists keep learning about this ... he's getting summertime on them on a ... difficult financial repression because you get a new high import a ... hundred thousand dollars and a banking basically get to ... get a few hundred bucks for an entire year ... and some minutes from our apartment ... it's a problem for savers is the proper people love ... it on and retire to ... whom when they ... estimated what they are living these would be with built in some sort of return in a safe investment like an insured ... bank deposits ... I think frankly that's not to change anytime soon people been in that position now for several years ... and if you've listened to the chairman for Nike's ... up as Cummins ... his view is ... that it's an understandable view ... is that ... listen everyone will benefit from a healthy and growing economy ... when the economy ... is really healthy stuff going at some point interest rates ... will go back up savers will start getting the return again ... but until that point ... aam ... you know that if it needs to be ... pushed ... way down ... on the accelerator as they've been doing ... the money and that means ... basically ... near zero interest rates for savers ... and I don't think there's any real prospect that this can change anytime soon but is it is and it is a prom for people ... and if you just joined us we are wasting ... time decision on interest rates from the fat thumbs up when we get that wouldn't have it on Hell's mouth joins us to tells all about that decision Ms